Payment Schedule Calculator
Enter the project total, an optional deposit and the number of installments to see each payment, the running total and a check that the schedule adds up to the total.
Deposit and installments
Split what's left after an optional deposit into equal installments. Amounts are in dollars and cents.
The full amount you'll bill for the project.
Leave empty or enter 0 for no deposit.
A whole number from 1 to 120.
Each installment
$2,500.00
4 installments after a $2,000.00 deposit. Left to bill after the deposit: $10,000.00.
Schedule
- Deposit$2,000.00(running total $2,000.00)
- Installment 1$2,500.00(running total $4,500.00)
- Installment 2$2,500.00(running total $7,000.00)
- Installment 3$2,500.00(running total $9,500.00)
- Installment 4$2,500.00(running total $12,000.00)
Schedule total: $12,000.00
How the schedule is worked out
Left to bill = project total − deposit.
Each installment = left to bill ÷ number of installments, rounded down to the cent.
Final installment = left to bill − each installment × (number of installments − 1).
The calculator works in whole cents, so the deposit plus every installment adds up to the project total exactly. In the example, a 12,000.00 project with a 2,000.00 deposit leaves 10,000.00, which splits into 4 installments of 2,500.00. If you bill 10,000.00 in 3 installments with no deposit, they come to 3,333.33, 3,333.33 and 3,333.34: the final installment takes the extra cent.
Amounts are in dollars and cents, up to 1,000,000,000,000.00. The calculator adds no interest, fees or tax; it splits only the amount you enter. If you charge interest or late fees on installments, check the rules where you work.
Agree on the deposit and the installment dates with your client, and put them in your contract or proposal. For more on billing in stages, see milestone invoicing and progress invoicing, or work out your rate with the hourly rate calculator.
Frequently Asked Questions
Invoice each installment with Billed
In Billed you can give each invoice its own due date, set up a recurring profile for clients billed on a regular schedule, see which invoices are paid in full, paid in part or past due, and send payment reminders.
No credit card required.